Categories: Market Research

Flower And Ornamental Plant Market Latest Developments …

The Flower and Ornamental Plant Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Flower and Ornamental Plant Global Market Report 2024, The flower and ornamental plant market size has grown strongly in recent years. It will grow from $43.09 billion in 2023 to $46.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to cultural and religious significance, landscaping and urban beautification, event decoration, memorial and funerary practices, horticultural advancements.

The flower and ornamental plant market size is expected to see strong growth in the next few years. It will grow to $67.56 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to economic growth and disposable income, sustainable and local sourcing, social media influence, community gardens and green spaces, increasing urbanization. Major trends in the forecast period include online and direct-to-consumer sales channels, technology for virtual floral experiences, customization of flower arrangements, innovation in indoor gardening products, drought-tolerant and low-maintenance plants.

The rising demand for indoor plants and flowers in the residential sector is expected to propel the growth of the flower and ornamental plant market going forward. Indoor flowers and plants refer to plants that are grown indoors in places such as residences and offices. Ornamental plants can be grown indoors year-round as warm-weather plants. Indoor plants have many advantages, such as reducing stress and boosting creativity, productivity, and focus. These plants can be kept indoors as long as they get plenty of sunlight. For instance, in April 2023, according to the National Gardening Association, a US-based gardening association, the average household spent $616 on lawn and gardening activities in 2022, up $74 from 2021. Therefore, the rising demand for indoor plants and flowers in the residential sector is driving the growth of the flower and ornamental plant market.

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The flower and ornamental plant market covered in this report is segmented –

1) By Type: Potted Plants, Cut Flowers

2) By Distribution Channel: Offline, Online

3) By End-Users: Commercial, Residential

Major companies operating in the flower and ornamental plant market are developing new products such as advanced pot cultivation to gain a competitive edge in the market. Pot cultivation typically refers to cultivation which can use a variety of tools and procedures to maximize plant development and productivity, and is frequently utilized for growing plants indoors or in controlled surroundings. For instance, in October 2023, Dummen Orange Holding B.V. a Netherlands-based a company specializing in the breeding and development of flowers and plants launched new suntaste pot chrysanthemum series. The suntaste line is an extension of Dummen Orange’s continuous endeavors to provide cutting-edge and superior plant varieties to the market, thereby reinforcing its standing as a preeminent Dutch plant breeder and propagator. In order to satisfy the tastes of producers and buyers, this series aims to offer distinctive and colorful options for potted Chrysanthemums. This series is perfect for year-round production in several pot sizes in four appealing hues because it has petite, anemone-like flowers and comes in a range of vivid colors.

The flower and ornamental plant market report table of contents includes: